SAR-listed metal trader WellNet Holdings has lined up three technical partners and 20 industry players to develop a one-stop metal exchange portal, scheduled to be launched next month.
It will be the second metal-trading Web site to be established in Hong Kong following the launch of iSteel Asia.com in December.
'Unlike iSteelAsia, which serves only the steel market, we will target all kinds of metal trading, including ferrous metals, non-ferrous metals and precious metals,' said WellNet chairman David Chan Shing.
However, about 80 per cent of turnover was still expected to come from steel, Mr Chan said.
'The annual turnover of steel trading in the world is over US$140 billion,' he said.
'We expect 1 per cent of the volume - US$1.4 billion per year - will come from our Web site,' he said.